HabitTrade launches Stove Protocol to bring 1:1-backed US equities on-chain

HabitTrade has launched Stove Protocol, an open-source, non-profit process designed to represent real United States equities on-chain, backed 1:1 by shares held in regulated brokerage custody.

The Sydney-based firm said Stove provides permissionless smart contracts that allow developers and platforms to map equities on-chain, while positioning the protocol as infrastructure rather than a trading venue. HabitTrade said Stove does not operate a trading platform and does not charge protocol-level fees.

In the release, HabitTrade said tokenised equities should reflect real ownership rather than synthetic price exposure, and that Stove is designed to give developers and platforms a standardised way to connect on-chain applications with actual spot equities.

Tokens issued under the framework are intended to preserve core economic interests linked to equity ownership, including dividend entitlements and asset claims, the company said.

HabitTrade framed Stove as part of a broader effort to connect traditional capital markets with blockchain-based financial infrastructure in a compliant and responsible manner.

It described it as a global brokerage firm offering access to US equities with stablecoin-based settlement. It said its services span trading, custody and asset issuance, with a focus on regulatory alignment.

The launch comes as firms across traditional finance and crypto seek to build compliant routes to bring public market assets onto blockchains, with proponents arguing that tokenisation can improve settlement speed and broaden access. Companies are also exploring regulated on-chain trading models, putting custody and investor protections under scrutiny.

Stove’s focus on 1:1 backing and brokerage custody is intended to address a central question in tokenised equities: whether a token represents an enforceable claim on a real share, or merely tracks a price.

HabitTrade said developers can use the protocol’s contracts to build integrations that connect decentralised applications to equities held off-chain, without the protocol itself running a marketplace.

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HabitTrade said Stove is open-source and intended for broad adoption.

More information about Stove is available via the protocol’s website, the company added.

The Recap

• HabitTrade launched open-source protocol Stove for on-chain equities.
• Protocol targets 1:1 representation of U.S. equities on-chain.
• The company did not provide a timeline or next steps.